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Saturday 22nd of May 2010

News Tag: fund

May 17, 2010

Prudential presses ahead with record £14.5bn cash call

by Kay Murchie
Prudential, which is Britain’s second largest insurer, has today outlined details of its £14.5 billion ($21 billion) rights issue, which will be used to help fund its acquisition of AIA, the Asian arm of US company American International Group (AIG). Earlier this month, fears were raised over the acquisition after the Financial Services Authority (FSA) intervened causing a delay to ...

May 5, 2010

Prudential rights issue delayed

by Kay Murchie
Prudential, which is Britain’s second largest insurer, has announced today its $21 billion (£13.8 billion) cash call will be delayed due to intervention by the Financial Services Authority (FSA). The insurance giant was due to embark on the rights issue in order to fund its acquisition of AIA, the Asian arm of US company American International Group (AIG). Pru said the deal provided it ...

April 26, 2010

One-third of equity releasers pay off mortgages

by Gill Montia
How do equity releasers use the funds they have raised? Bridgewater Equity Release claims to have the answer, having analysed the main reasons why people apply for its home reversion plan. Surprisingly, 30% of those questioned were planning to clear the mortgage, while just over 17% had home improvements in mind. With the data collected over the past three years, debt ...

April 16, 2010

NI Executive agrees £50m bailout for PMS savers

by Kay Murchie
The 10,000 Presbyterian Mutual Society (PMS) members who lost their savings after the society collapsed will welcome the news that the Northern Ireland Executive has agreed a £50 million rescue package. After a run on withdrawals, the PMS was forced into administration in 2008 and its members lost access to their savings. The run began when some members realised the society ...

November 16, 2009

BCC survey claims firms still ’struggling to get finance’

by Kay Murchie
Business group, the British Chambers of Commerce (BCC), is claiming that small and medium-sized firms are still struggling to access finance. The report comes despite the £200 billion injected into the UK financial system to boost lending. According to the BCC, one third (33%) of companies surveyed said that accessing finance had been more difficult over the last three months ...

September 15, 2009

Micro-finance funds Africa’s first eco-town

by David Masters

August 24, 2009

CBI calls for new apprenticeships to tackle youth unemployment

by Kay Murchie
The Confederation of British Industry (CBI) is urging the Government to deal with the growing levels of youth unemployment and is calling for £125 million of the Government's £500 million recruitment subsidy fund to be spent on creating 50,000 new apprenticeships. The growing problem was highlighted last week by the Prince's Trust and the University of Sheffield, who ...

November 4, 2008

Britons review faith in property to fund retirement

by Gill Montia
Britons review faith in property to fund retirement
Investment firm, Alliance Trust, has revealed that the property market downturn has shaken homeowners' confidence in funding part of their retirement by cashing in on the family home. According to recent research by the company, only 33% of Britons list property investment among their top three methods of pension savings. The proportion compares with 43% a year ago. Correspondingly, the number ...

July 14, 2008

Houses no longer prime retirement asset

by Gill Montia
Houses no longer prime retirement asset
Baring Asset Management is advising homeowners relying on property assets to fund their retirement to diversify. The slowdown in the UK housing market has highlighted the dangers of relying on a specific sector for pension income and research by the investment firm has shown that the number of people who are planning to use property to provide their pension income is falling. A ...